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A thirst to get qualified at the Propertymark Wales National Conference

18 October 2019

With so much change for agents in Wales in 2019, the delegates at the Propertymark Wales National Conference heard a legislative reminder on anti-money laundering, referral fees and the regulation of the industry. Read More...

Homeowners more than £350k better off than private renters over 30 years

18 October 2019

The average homeowner in the UK could be £352,500 better off than the average private renter over the next 30 years, new research from the Intermediary Mortgage Lenders Association (IMLA) says. However, the report also outlines the financial and social barriers that younger people face in becoming homeowners and suggest that rising house prices may not be the main cause. Read More...

First time buyers hold many misconceptions

Thursday 19 September 2019

A new study from Santander Mortgages has revealed striking misconceptions and knowledge gaps among aspiring first-time buyers as they prepare to make their most major purchase.

The survey of 2,000 non-homeowners suggests first-time buyers need some help to be better informed about the homebuying process.

Major misconceptions

More than three quarters (76 per cent) of respondents thought ‘LTV’ stands for ‘Long Term Value’ and related to a projected increase in property value.

More than 70 per cent thought the seller is obliged to tell buyers about any problems with the property during a viewing.

More than three fifths of respondents believed mortgage interest rates are lower in parts of the UK where house prices are cheaper.

But while aspiring new homeowners may lack some knowledge about various aspects of the homebuying process, they are typically prepared for the financial costs associated with getting on the ladder. On average, new buyers are overestimating the typical fees involved for solicitors, surveys, removals and land registration. And while 58 per cent admit they do not know what stamp duty actually is, new buyers are aware that it is an added cost that they must factor into the purchase.

Propertymark Protected

Given the amount of uncertainty among new buyers that this data suggests, it is even more important to reassure buyers that by using a NAEA Propertymark estate agent, they are guaranteed to be consulting with a professional agent who can give up-to-date advice and guidance.

Propertymark Protected 

Propertymark consumer information

Propertymark has a collection of home buying advice and guides, explaining everything from first tine buyer schemes and getting on the property ladder, to choosing a conveyancer, shared ownership and more.  

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